Revive ‘Dreams’ program

Friday, December 2, 2011

WITH global property buyers slowly shifting their interest to Asia, the Philippine Allied Chamber of Real Estate Brokers and Licensed Salesman (PhilAcre) is asking the government to come up with an effective promotional program to help them sell the Philippines as a vacation destination in the world.

“Tourism and real estate go together. There should be a good promotional program for these sectors. A joint collaboration should be started. There are a lot of interested buyers of condominiums from the international market. The Philippines is one of their top picks,” said PhilAcre president Anthony Leuterio in a statement.

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Leuterio, who attended the International Realtors Convention in California last month, said Filipino property sellers went on their own to participate in the event to promote tourism and real estate in the Philippines to over 20,000 property sellers nationwide.

Unlike other Asian countries supported by their governments which provided them with good promotional collaterals, Filipino representatives were left on their own in promoting the sectors.

Leuterio said international investors now, largely Americans and Europeans, are turning their attention to properties in Asia. Bulk buying of condominium units is becoming a trend for global investors.

However, if the Philippine Government will remain less supportive in promoting the Philippines as a long-term vacation destination, like Hawaii, Leuterio said investors’ interest may be snatched by other Asian countries, which actively promote property investments.

Opportunities

He said the Philippines has to compete with other countries, in terms of providing infrastructure facilities, to support the bid of becoming an international vacation destination, or even a retirement haven. It has to put up more amusement parks and a good transportation system, among others.

Leuterio added tourists coming to the Philippines should also be introduced to different investment opportunities here, and the condominiums are generating the most interest among international property buyers.

Some years ago, the country, through the Department of Tourism (DOT) launched the program called “Live Your Dream”, an investment-tourism strategy meant to lure foreigners, such as active retirees, to invest on vacation homes in the Philippines, which is considered the Hawaii of Asia.

Leuterio hopes this particular program will be revived as this will accelerate the growth of both tourism and real estate sectors.

In a separate interview, DOT Secretary Ramon Jimenez Jr. said tourism is an economic driver whose impacts spread the fastest.

The DOT is aggressively campaigning for its long-stay tourism program, which hopes to attract retirees, semi-retirees looking for investment venues and medical tourists, among others.

The program, according to the DOT, is an initial step for the retirement program of the Philippine Government.

The DOT has long been promoting the Philippines not only as a vacation haven but as a retirement haven for elderly foreigners and Filipinos who have changed their citizenship after working abroad for many years.

The envisioned long-stay tourism program encourages tourists to stay in the country from three to six months. The current definition of long-stay tourism in the country is a visit from between two weeks to three months.